NEW YORK, July 9, 2012 /PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) today announced that it added 622,042 net subscribers in the second quarter of 2012, up 38% from 452,147 net subscribers added in the second quarter of 2011. The company has added over 1 million net subscribers in the first half of 2012. At June 30, 2012, the Company had over 22.9 million subscribers.
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The company also increased its full year 2012 subscriber and revenue guidance. SiriusXM now expects its net new subscriber growth to approach 1.6 million and revenue to approach $3.4 billion in 2012. Adjusted EBITDA guidance of $875 million and free cash flow guidance of $700 million remain unchanged.
"SiriusXM continues to demonstrate robust growth and strong operating execution despite a challenging economy. Our second quarter subscriber gains mark a record quarter of net additions since the merger of SIRIUS and XM in July 2008," said Mel Karmazin, Chief Executive Officer, SiriusXM. "While we continue to be conservative in the face of a weak US economic outlook, customers continue to embrace our unparalleled programming lineup, allowing us to raise subscriber guidance for the second time this year," Karmazin added.
SiriusXM plans to release second quarter 2012 financial results on Tuesday, August 7, 2012 and will hold a conference call at 8:00 am ET to discuss these results. Investors and the press can listen to the conference call via the company's website, www.siriusxm.com, and on its satellite radio service by tuning to Sirius channel 94 or XM channel 142. The call will also be available on the Sports Zone channel on SiriusXM Internet Radio as well as through the SiriusXM Internet Radio App for the Apple iPad, iPhone, and iPod touch, and on BlackBerry and Android-powered smartphones.
About Sirius XM Radio
Sirius XM Radio Inc. is the world's largest radio broadcaster measured by revenue and has more than 22 million subscribers. SiriusXM creates and broadcasts commercial-free music; premier sports talk and live events; news and comedy; exclusive entertainment; and the most comprehensive Latin music, sports and talk programming in radio. SiriusXM is available in vehicles from every major car company in the U.S., from retailers nationwide, and online at siriusxm.com. SiriusXM programming is also available through the SiriusXM Internet Radio App for Android, Apple, and BlackBerry smartphones and other connected devices. SiriusXM also holds a minority interest in SiriusXM Canada which has more than 2 million subscribers.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results may differ materially
from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our competitive position versus other forms of audio entertainment; our dependence upon automakers; general economic conditions; failure of our satellites, which, in most cases, are not insured; our ability to attract and retain subscribers at a profitable level; royalties we pay for music rights; the unfavorable outcome of pending or future litigation; failure of third parties to perform; and our substantial indebtedness. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2011, which is filed with the
Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
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Contact Information for Investors and Financial Media:
212 901 6718
212 901 6646
SOURCE Sirius XM Radio